THE WHAT? Madison Reed announced it raised US$33 million in a funding round led by Sandbridge Capital, with participation from Marcy Venture Partners.
THE DETAILS The funding will accelerate the growth of Madison Reed’s Hair Color Bar concept, with 80 locations planned by the end of the year. The prestige beauty brand is targeting expansion in New York, South Florida, California, Chicago, Washington DC and Texas, among others.
Additionally, the company plans to expand its omnichannel offering and expand its color, care and maintenance product portfolio with new innovations.
THE WHY ? Amy Errett, CEO and Founder of Madison Reed, said, “As we continue to grow our geographic and business footprint, we couldn’t be more excited to partner closely with Sandbridge Capital and Marcy Venture Partners on this chapter of our development. ‘expansion. Their deep retail and beauty experience will be essential as we enter our next stage of growth. »
Ken Suslow, Founder and Managing Partner of Sandbridge Capital, added, “Madison Reed’s innovative omnichannel approach maximizes convenience while delivering a thoroughly modern customer experience at every level. Sandbridge is proud to join the Madison Reed team in supporting their important category-defining mission.